It seems Ergo Auctions House is getting some attention, and some nice community is forming around it.
I guess maybe it is good time to move to stakeholding for artists. We can start with offchain logic and then set it in stone into contracts when it becomes mature enough.
For starters, we can consider distributing NFT artist rewards token to each auctions creator which is finishing with a bid of at least X ERG. Then, e.g. weekly 50% of auctions house income is going to token holders (income is about 2% from every auction currently). This scheme can be manipulable to some degree and also has ever increasing dilution, but for starters ok.
Then artists will be interested even more in promoting not just their auctions but the whole platform.
Really cool idea.
I got into the Ergo Auction House community about a month ago thanks to @Zimulakra and there are some cool artists around for sure. I can really see it picking up over the course of this year too.
It’s so nice to see you taking this approach to help reward the artists, just makes me even happier to be part of the community.
Excellent idea.
In addition, it could also be interesting to have a continuous profit sharing mechanism on further sales of an artwork to the initial token issuer, also if the artwork is resold ten years from now for a million worth, the initial artist would at least get 1% of this million (assuming proportionality in profit share). This could even attract more artists, and buyers, as usually artists don’t get much of later price appreciation of their art.
I think we would be mistaken to let the growing NFT buzz pass by us without harnessing some of the momentum. I’ve been thinking a lot about this and have some questions and ideas that I will gather together shortly.
Yes! Awesome idea. Also, agree with veriumfellow it would be great if there was a way to put a profit sharing mechanism on further sales of an artwork to the initial token issuer. Is that possible?
Having a way to get some ‘unlockable’ features added would be nice too. So for instance I sell an audio file. If you are the highest bidder on the auction, you receive the file but also an image/animation of the spectogram of the audio.
I like to put some images/messages hidden in the audio and it’s not that easy for everyone to make visible after.
Not sure if that’s a cool idea or not.
Great work getting things started with the NFTs. I think profit sharing is a really good idea, as long as it is optional in participation when listing.
I also thought the potential for community zk fund(s) to donate the listing costs in erg to onboard existing artists and musicians, for promotion is a way to accelerate growth and advertise Ergo and nfts at low cost.
A fund for new artists is also a great idea.
I started with 3ERG that @Zimulakra very nicely passed to me and with that I made 75ERG in sales in the auction house, so far. With a little help at the beginning, it is possible to go pretty far.
My take on the most important things we can do right now to grow the art scene on Ergo
• Images on the front page of the auction house
• Clear display of current bid and how much it is to outbid
• Secondary market to be able to resell NFTs to create velocity
Once these happens, onboarding artists and collectors will be 10x easier
We need people’s first visit to the Auction house to be engaging so they want to come back
We need art lovers to be able to see and hear the art
We need NFT speculators to be able turn a profit
An option for adding a separate file for the preview would be nice. I added a few mp4 files. If i could add a gif to the preview I think it would look better than a blank space.
At some stage, if it could be possible to create portfolios I think that would be nice too.
So all my auctions (current and past?) would be visible.
